It's in the key of C and is supposedly chromatic but doesn't play sharps or flats very well. I've tried the fingerings it comes with and experimented on my own, not much luck. For example I can get an F# that is between F and G, but it's not really F#.
Anyway, it is a fun little thing that only costs a few bucks. If Emma ever expresses an interest in flute I'll probably start her on this fife. She's currently 4 years old and just started piano lessons.
Would I recommend it? Depends on the purpose.
For small children? Definitely. The best age range for this fife would probably be 5-10 years old. Before age 5, they are unlikely to have the air control to make a sound out of it. By age 10, they are probably big enough for a "real" concert flute. It would be a good trial instrument to see whether a kid has the desire and proficiency to blow a transverse flute. In that sense one could view it as a step up from a plastic recorder.
For performance? Hmmm... I don't believe it was ever intended for that.